Deadline Extended for 1:0.25 Right Offering of Neco Insurance Limited
Wed, Mar 12, 2025 8:43 AM on Latest, Dividend, Bonus & Rights,
Neco Insurance Limited (NIL) has extended the deadline for its rights offering. The company opened its rights offering on 8th Falgun, 2081. The issue was supposed to close today, i.e., on 8th Falgun, 2081, but as per the notice, the rights offering will now conclude on 14th Chaitra, 2081.
The company will be issuing 25% right shares worth Rs. 50.30 crore through the issue of 50,30,901.55 (1: 0.25) units of right shares to its existing shareholders. The current paid-up capital of Rs. 2.01 Arba. After the adjustment of the proposed right share, i.e., 50,30,901.55 units, the company's paid-up capital will increase to Rs. 2.51 Arba.
According to the CDSC, 24,457 applicants applied for 20,33,821 units of right shares, equivalent to Rs. 20.33 Crore. This data is as of 5 pm yesterday.
Sanima Capital Limited has been appointed the issue manager for this right issue.
The book closure date was 17th Magh. Thus, shareholders maintained before that day are eligible for the rights offering.
